Last updated on October 24th, 2021 at 09:38 am.
YouTube is a great platform to gain fame in a short time, connect with the hotshots in your niche, and most importantly, have a reliable source of passive income.
The channel today has many self-made celebrities who rose to fame simply through their innovative and unique content. But many others might not have many viral videos, or are not so known, yet earn a substantial income.
Initially, you might not have created your channel for monetization purposes, but now that you know how much income it’s possible to generate from just your videos, we bet you would like to know more. So, here are the top 5 ways of how to make money on YouTube.
Top 5 Ways Regarding How to Make Money on YouTube?
Become a YouTube Partner
The YouTube Partner program is quite popular amongst top YouTubers as it offers a great way to earn high revenue from the world’s 2nd largest social media platform.
A basic requirement here is 1,000 subscribers and 4,000 watch hours in the previous 12 months. Next, you need to set up an AdSense account and start exploring the many monetization channels such as Ad revenue, YouTube Premium revenue, channel membership, super chat payments, and merchandise shelf.
In view of the Islamic constitution, AdSense is not lawful. It’s prohibited because it shows different prohibited photos in many prohibited ways in Islam. Also, it provides ads on many products and services which are prohibited in Islam.
Becoming a partner has two major cons, one that the platform charges you a certain percentage on your revenue earned, two, you only get paid when the viewer either clicks on the ad or watches it until it ends.
Sell Products or Merchandise
Merchandise is a viable way to make good money from YouTube. You can easily sell T-Shirts, Tote Bags, Coffee mugs, snap bags, or anything else with your brand name.
It would be great to have a good reputation amongst your fans. Start selling with a couple of items, and then involve your fans to help make your decisions on the merchandise that they want.
For example, if most of your fans wish for a coffee mug with your brand or a personal diary, then you should design and sell your merchandise accordingly. Remember, to sell your products; you’ll need a separate website or enable YouTube’s partner merchandise shelf.
Create Sponsored Content
Instagram is not the only platform with influencers and affiliates; YouTube is too. The major benefit of sponsored content is that you need not give YouTube a cut of your earnings, just collaborate with a brand, and they will pay you directly.
The key here is to endorse only those brands that relate to your niche, keeping in mind that you need to believe in or like their product, and can naturally talk about it to your viewers.
There are many influencer marketplaces too, such as Grapevine Logic, Famebit, Crowdtap, etc. where you can join and get discovered by brands both big and small.
License Your Content to the media
When a video goes viral, every media outlet wants to get their hands on a copy to replay it to their audience. This is a great opportunity for you to get your video licensed exclusively to a good media house.
As a content creator, this can be a great opportunity for you to not only grow your network but earn a good amount of money too. Just remember to keep your contact details updated on the about page, and sign up to a video rights marketplace.
Crowd-funding and fan funding are common sources of income for YouTubers nowadays. YouTube has listed certain crowdfunding sites where you can easily register, highlight your goals and start receiving funds.
For Fan-funding too, YouTube has a special feature “Super Chat” where your viewer’s comments can be made more visible –highlighted and pinned by an automatic setup based on how much they pay.
In exchange, your fans can also get emojis, badges, access to Live Chats with you, and most importantly, a good recognition for themselves. If your channel does not have many viewers for funding, LeoBoost is the ideal platform that can help get you more relevant subscribers and viewers to your YouTube Channel.
If someone starts thinking of how to make money on YouTube, what motivates most YouTubers to create and publish new content is not money, but the urge to make people enjoy their work. Ironically, it puts them in a great position to earn some passive income from the channel itself.
In fact, if you are an entrepreneur, YouTube can provide a great means to connect with the right audience and engage with them. Or you can get creative and use the above-listed strategies, mint some good money for yourself.